Fraudulent Websites: February 3, 2011
Notice entitled 'Websites with Cayman Addresses Not Registered nor Licensed in the Cayman Islands' issued by the Cayman Islands Monetary Authority.
Cayman regulator warns against unlicensed ‘banks’
The Cayman Islands Monetary Authority has issued a warning about eight Internet 'banks' which are using Cayman addresses and/or telephone numbers even though they are not registered or licensed there. Research by OffshoreAlert indicated that six of the eight sites have links to Nigeria, where fraud is a major industry, while the principals of the other two have ties to Singapore and the UK.